what an opportunity - an npv of 50c per well, page-41

Grangeh,

It's more that I like UCG before UCTL. I see UCG as much closer to proving its commercial viability and to investor returns.

I see UCTL as a good ten years behind UCG and currently extremely unproven and high risk - even more than UCG. I will keep updated on UCTL progress, particularly pilot plant results, and if I like it I'll consider investing down the track. I think that's at least 5 years away, probably longer.

In the meantime, I see plenty of better opportunities for returns in the market - coal, CSG, and UCG, in increasing order of risk.